Bitcoin BTC/USD traded at the level of 6968 and continue to move within the correction. At this point, we should expect an attempt to test the bottom of the uplink near the 7050 area. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a target below the level of 6500.
Bitcoin (BTC/USD) technical analysis August 7, 2018
In favor of lower quotations BTC/USD will test the resistance area on the indicator of relative strength index (RSI). The abolition of the Bitcoin growth option will be the fall and breakdown of the 7250 area, which will indicate the breakdown of the upper border of the channel and the continued growth of the Bitcoin exchange rate. With the breakdown of the support area and the closing of the quotes of the cryptocurrency below 6800 level, one should expect confirmation of the development of the fall variant.
Bitcoin (BTC/USD) technical analysis August 7, 2018 involves an attempt to test the resistance level near the area of 7050 and continue falling of the cryptocurrency with a potential target at 6500, an additional signal in favor of Bitcoin depreciation will be a resistance area test on the relative strength index (RSI), decrease of the cryptocurrency will be a strong growth and breakdown of the region 7250.